MONTREAL — Quebecor Inc.'s cable subsidiary is becoming a partner of the new Montreal comedy festival that will be launched this summer.

The director general of the Grand Montreal comedie fest, Diane Arseneau, said in a statement Monday that Videotron is an ambitious partner and that the agreement could open the door to other partnerships.

The new festival was originally announced last November and was the idea of standup comedian Martin Petit. It will be held July 1-15.

Monday's announcement came three days after it was revealed that Quebecor had chosen to not exercise its right of first refusal in the sale of Just For Laughs.

The comedy company is expected to now fall into the hands of ICM Partners, a Los Angeles-based talent and literary agency that has reportedly signed an agreement in principle to buy the controlling shares of Just For Laughs founder Gilbert Rozon.

Rozon announced he would sell his majority stake in the company amid allegations last fall he sexually harassed and assaulted several women.